Sun Capital Partners is acting now while supplies last by acquiring Gem Shopping Network, a jewelry and gemstone retailer that operates a live TV network, Amy Or reports. Selling gemstones differs from selling jewelry made from precious metals, according to the appropriately named Sun Capital Principal Jeremy Stone. “As gemstones are often one-off, single pieces, these are much more of a collectible item,” Mr. Stone said.

Clayton Dubilier & Rice, meanwhile, has dialed up a big transaction in the energy equipment space. The buyout firm made two acquisitions, one from Harsco Corp. and one from First Reserve Corp., worth a total of $2.5 billion to form a new company, Brand Energy & Infrastructure Services, Jonathan Shieber reports (subscription required). The total deal value included $800 million in equity with an additional $1.7 billion in debt.

More stories available to LBO Wire subscribers: Stone Point Capital is making the rounds with investors for a new fund offering, in what is expected to be a swift marketing process…Acon Investments leads an investment in a new oil and gas exploration platform headed by Scott Josey, an executive with whom Acon had previously worked…and the Ontario Teachers’ Pension Plan invests $70 million in Brazilian online lifestyle retailer Dafiti Group.

(LBO Wire is a daily newsletter with comprehensive analysis of all the investments, deals, fundraisings and personnel moves involving private equity firms. For a two-week trial, visit our homepage, scroll to the bottom and click “try for free.”)

U.K. Treasury Chief Secretary Danny Alexander will announce a crackdown on tax loopholes being used by the “vast majority” of partners in private equity accountancy firms to shelter their earnings, according to the Financial Times.

Private equity and hedge fund investors are increasing their control of mortgage servicing rights as bands retreat from the nearly $10 trillion market amid looming regulations, according to Bloomberg News.

TPG Capital, Axa Private Equity and Charterhouse, which are seeking to sell the French division of international broadcasting masts operator TDF Group for at least 4 billion euros, will hold a meeting later this month to decide whether to invite new bids, according to Reuters.